Chart Patterns
Base
Also called: bases, flat base, basing, prior base
A sideways consolidation on the weekly chart where a stock digests a prior move before breaking out. The longer and tighter the base the more powerful the move that comes out of it tends to be, because all of that time going nowhere is building energy as weak holders give up and institutions quietly accumulate.
On the Chart
In Context
“XLB had its first pullback since breaking out of a five-year base and buyers aggressively stepped in at the 10-week.”
Death by a Thousand Cuts·Digest
“Perfect flat base, major shakeout candle back into the base, I traded it a few times but kept getting stopped.”
Nothing's Changed Yet·Digest
“The more you zoom out the less random it gets VIAV is up 70% from its recent consolidation and the base alone is impressive, 10+ weeks tight which is a long time for a stock to go nowhere.”
Nothing's Changed Yet·Digest
“I missed the initial move out of the prior base so this pullback into the breakout pivot was the secondary entry.”
Nothing's Changed Yet·Digest
“Broke out of a base earlier this week and when it pulled back in I was watching it.”
Nothing's Changed Yet·Digest